Ethereum upgrades technology to cut CO2 output by 99%: Report

Even though completed, the Merge could be followed by days or even weeks of hiccups, based on what happened after some prior Ethereum software updates

Ethereum has completed a key revamp of its blockchain network, marking the crypto world’s most-ambitious software upgrade to date. As a result, Ethereum’s carbon consumption will decline by an estimated 99 per cent. Called the Merge, the upgrade completed in the early hours of Thursday, Ethereum co-founder Vitalik Buterin tweeted. 

The change replaced power-hungry computers that were used to order transactions on the network with a more energy-efficient set-up using piles of the network’s native token, Ether, placed in special, so-called staking wallets. 

Such an upheaval had never been attempted in crypto before, let alone on Ethereum, home to about 3,500 active